CABS (formerly Central African Building Society) is a building society in Zimbabwe. CABS is a subsidiary of Old Mutual Zimbabwe Limited, Zimbabwe's largest life assurance organization. Old Mutual Zimbabwe is in turn a subsidiary of Old Mutual PLC - an international financial services conglomerate. The bank has over sixty years of experience and over 50 branches in Zimbabwe.[1]

CABS
Trading name
CABS
Type
Private
Industry Banking
Founded September 8, 1954
Headquarters Northridge Park , Northend Close, Borrowdale, Harare , Zimbabwe, Harare, Zimbabwe
Key people
Simon Hammond (Managing Director), Leonard Tsumba (Chairman), Nqobile Munzara (company secretary)
Parent Old Mutual
Website www.cabs.co.zw

The Society offers a diverse range of financial products and services that includes transaction and savings accounts, mobile banking, mortgage loans, money market investments, term deposits and pay-roll loans.

Contents

Background

The bank was established in the then Rhodesia on 8 September 1954.[2] CABS is owned by Old Mutual Zimbabwe limited which has interests in various sectors of the economy including retail, properties and insurance. Thus CABS operates as a subsidiary of this multinational company.

Products

  1. Textacash
  2. Transaction Accounts
  3. Savings Products
  4. Loan Products (Mortgaes, Equity Release loans, Short term loans for investors)
  5. CABS Bancassurance
  6. CABS Investment Services
  7. Corporate Banking Services.[3]

Services

  1. Internet Banking
  2. DSTV Payments
  3. Bill Payments
  4. Debit Cards
  5. Exchange Control Products & Services
  6. Senior Citizen Discount[3]


Mortgages

For Diaspora

CABS offers mortgages for individuals in the diaspora. The requirements for people in the diaspora diasporans are:

For more information please contact CABS Contact Centre. Telephone:+263 (04) 883823/33

Budiriro Properties

In 2013, CABS partnered the [[Harare City Council] in a $15 million project for the construction of 2,800 houses in Budiroro. Initially, customers were expected to pay about $5,000 deposit for two-roomed houses that were being sold for $22,000, and $7,000 for the four-roomed houses whose total cost was $27,000.

In September 2017, CABS relaxed the terms of access for the Budiriro mortgages. The bank increased Mortgage tenor from 20 years to 25 years,

Awards

Branches

Past Exexutives


Some Articles About CABS

Old Mutual Merging Its Companies Into 3 Clusters Sun May 12 2019

Man Swipes 000 Using Cloned Bank Cards To Buy Wine Mon Apr 29 2019

Police Chiefs Involved In US Million Housing Scandal – Report Fri Mar 8 2019

See more news on CABS

References

  1. , Central Africa Building Society (CABS), "AUHF", retrieved:17 Jul 2014"
  2. , Central Africa Building Society (CABS),Reserve Bank of Zimbabwe, retrieved:9 Jan 2015"
  3. 3.0 3.1 , Products, "CABS", retrieved:17 Jul 2014"
  4. F. Mhlanga, Top banks win awards,The Independent, published:21 Nov 2014,retrieved:9 Jan 2015"